ST. PETERSBURG, June 18. /TASS/. Russia does not reject foreign investments but they must be smart and aimed at forming new technology competencies in the country, First Deputy Prime Minister Denis Manturov said at the St. Petersburg International Economic Forum (SPIEF).
“For the future, certainly, we should provide for at least several principles of doing business with foreign investors. We certainly do not reject foreign investments but as I said, investments should be smart, there should be not merely investments into creation of production facilities but at the first instance, creation of new technology competencies in area still requiring further investments, further contributions with us,” Manturov said.
Presence of control of a Russian beneficiary is among important principles for the work of foreign companies in Russia, Manturov noted. “All the new special investment contracts, particularly for the automotive industry, are being made exactly on such principles,” he added.